Wealth Services

Estate Planning and Trust Services

Estate Planning is the process during which you review your current situation and identify alternatives available to establish and accomplish your personal and financial goals. Estate planning assists you in making informed decisions about ownership and distribution of assets during your lifetime and after your death and it is often the first step in preparation of a properly drafted will.

You spend a lifetime accumulating and safeguarding your assets. You care for your family and others who depend on you. Unless you properly plan your estate, the objective you established during your lifetime will not be met when you are gone.

With a well planned estate and properly drafted will, your assets will be distributed in accordance with your wishes, your beneficiaries needs will be met, and your estate will not be subject to unnecessary administration and legal costs and taxes.

Like the other areas of financial planning, estate planning is individualized and goal-oriented. Your goals may include some or all of the following:

Determining who will be the heirs or beneficiaries of your estate, and how much each will receive.
Deciding who will settle the estate (the executor) and administer the property within the estate.
Providing adequate financial security to your dependents after your death.
Providing enough liquid assets for your estate to meet its obligations.
Planning for the transfer/disposition of a closely-held business (if applicable).
Transferring the maximum possible percentage of your assets.
Planning and controlling the desired distribution of assets, both during lifetime and at death.
Minimizing taxes and estate settlement costs.

In order for you to establish and achieve these goals, the process will consist of several steps which we will assist you with:

Accumulating data concerning assets, family needs and desires
Identifying special needs, concerns or problem areas
Identifying and calculating estate transfer costs
Formulation of your plan
Implementation of plan

How can Crossroads Credit Union Help?

Estate planning can be simple or complex, but in all cases it is important to obtain professional advice and assistance. Crossroads Credit Union Trust Service Representative’s will be pleased to meet with you to discuss your personal situation and how estate planning can assist in meeting your goals.